STORY OF THE DAY
Residential prices to remain in growth mode going into 2022

Story of the week

28
Oct
2021

Residential prices to remain in growth mode going into 2022

by Property Forum
Prices for new homes will grow as developers are facing higher construction costs and deal with surging inflation, mentioned speakers during the residential market panel of SEE Property Forum 2021, Property Forum's annual event in Bucharest.
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Residential

28
Oct
2021

Resi Capital to build more PRS units in the centre of Łódź

by Property Forum
Resi Capital, PRS subsidiary of Cavatina Holding has bought an 11,590 sqm plot located on Tuwima Street in the New Center of Łódź area (Nowe Centrum Łodzi). JLL advised the vendor during this transaction.
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Bucharest-based Vulcan Residence to be sold out by H2 2023 Avestus establishes new brand for Czech residential developments Wing completes structure of Budapest residential building

Report

28
Oct
2021

€7 trillion needed to retrofit buildings in Europe to comply with ESG requirements

by Property Forum
The global drive to advance sustainability is creating considerable uncertainty in the investment market for real estate, according to a new report by Colliers EMEA. The report, ‘ESG: A Tipping Point’, points to an urgent need for policymakers to agree on pragmatic, actionable targets that will support the creation of clear, consistent technical standards and benchmarks enabling the reallocation of both capital and skills as investors rush to factor new ESG realities into decision-making.
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Who will profit from the growth of the flex office market? Residential is banks’ new favourite, KPMG survey confirms Labour shortage continues to hurt Hungary’s construction sector

Industrial

28
Oct
2021

Wing’s Budapest industrial project reaches 100% occupancy

by Property Forum
Wing launched the development of Hall D3 in East Gate Business Park to respond to distinct market needs reflecting increasing demand and increasing interest in the park. The hall, with a total area of over 9,000 sqm nearly 20% of which is office space, has now reached a 100% occupancy rate. This speculative investment project caters to tenants with production, manufacturing and complex, special warehousing needs.
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Speedwell launches first industrial project in Bucharest CTP to complete Hradec Králové complex in spring 2022 Budapest’s industrial market records strong demand

Investment

28
Oct
2021

Walter Herz: Investment land is the hottest commodity on the market

by Property Forum
This year’s value of transactions on the investment land market in Poland is already record-breaking.
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MLP Group to issue bonds worth €20 million Adventum acquires Mercedes Benz HQ in Warsaw Indotek Group to buy office building in Bucharest

Retail

28
Oct
2021

EDS Retail Park buys six former Tesco stores in Poland

by Property Forum
Gdańsk based developer EDS Retail Park has won the bidding to buy six Tesco stores, which it intends to convert into retail parks with a total of 29,000 sqm GLA.
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Colosseum Mall extension opening in Bucharest delayed by spring 2022 Czech shopping centre revenues exceed pre-crisis levels in August BNP: A rosier future is ahead for commercial real estate

Office

27
Oct
2021

Survey: 54% of Romanian employees prefer flexible work arrangements

by Property Forum
Some 54% of employees in Romania prefer a flexible mix that does not overpass 75% of their work time in remote conditions, according to a regional survey commissioned by real estate consultancy CBRE. 
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Savills to recommercialise Crown Square in Warsaw Survey: 10% of Romanian employees favour the home office Colliers wins PM and FM mandate of Codic’s Budapest office project

Economy

26
Oct
2021

Hagag presides opening bell ceremony at Tel Aviv Stock Exchange

by Property Forum
Hagag Development Europe has officially opened the trading day on Tel Aviv Stock Exchange (TASE) on October 24. The property developer has raised around €28 million after going public last August on TASE. 
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Material shortages threaten the construction sector’s recovery Hungary levies 90% tax on construction materials Croatia, Bulgaria and Romania to gain the most from more EU funding

Hotel

25
Oct
2021

Wing’s Budapest office project to include a hotel

by Property Forum
Wing and Accor have concluded a long-term agreement for a 12,000+ sqm area of the 42,000 sqm Liberty complex. As a result, the office building pursuing the BREEAM Excellent rating has added to its profile a dual-branded hotel under the Ibis and Tribe brands. The hotel part will be located in the landmark South wing and it is expected to be completed in 2023, which means this will be the first Tribe Hotel in Hungary.
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One United and Le Manoir buy boutique hotel in Buzău Regesta takes 17,500 sqm in Hillwood Wrocław East Hotel market in Poland faces major changes

Interview

20
Oct
2021

The major challenge is the construction price

by Michał Poręcki
Roger Andersson, Managing Director of Vastint Poland talked to Property Forum about the accelerating residential property prices, faith in hotel investments in Poland, and constantly rising construction costs.
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Younger Poles attach less importance to owning an apartment Residential prices in Poland will continue to rise Retail was hit hard but it will bounce back

Career

19
Oct
2021

Maximillian Mendel to lead Zeitgeist AM in Poland

by Property Forum
Zeitgeist Asset Management has announced that on January 1st, 2022, Maximilian Mendel, one of the most experienced practitioners in PRS, student housing and other fields in the living sector, will assume the position of Managing Director of their Polish subsidiary.
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JLL strengthens Living Investments team in Poland GTC Poland appoints new Commercial and Development Directors Romania's Meta Estate Trust names new CFO

New leases

  • PepsiCo Polska moves its headquarters from Praga-Południe to Praga-Północ (Warsaw). The company has leased two storeys with a total rentable area of ​​3 900 sq m (3 550 net) in building M of the Monopol project at Koneser Square. The relocation is expected to be completed in the second quarter of 2022.
  • Baxter, an international company involved in medical equipment production, specialist medicines and biotechnology has prolonged its lease and enlarged the area it occupies within the Warsaw office building, Nordic Park owned by Globalworth. Baxter is the largest tenant in Nordic Park, taking up 4,700 sqm of offices over three floors.
  • Scheduling platform Booksy has leased 1,500 sqm in the Skyliner building in Warsaw in a transaction conducted entirely online via the ShareSpace platform.

New appointments

  • Diófa Fund Management has appointed Gábor Pozsgai as the company's new advisor to the Board of Directors. He will be responsible for the development and efficient operation of the sales strategy framework.
  • Colliers Poland is developing its Workplace Innovation department – Karolina Dudek, PhD has just joined the team as Associate Director. She will use her skills in organisational diagnosis, knowledge of research methodology and design management expertise to support the shaping of sustainable work environments.
  • Cromwell Property Group has appointed Piotr Goździewicz as senior investment manager for Central and Eastern Europe. He will be responsible for executing a variety of investment strategies of Cromwell and its capital partners in the region with a focus on Poland, Czech Republic and Slovakia.

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